Clipped from: https://www.businesstoday.in/personal-finance/tax/story/salaried-taxpayers-alert-you-cant-claim-lta-under-new-tax-regime-check-details-478086-2025-05-28 The new tax regime from FY 2025-26 offers zero tax on incomes up to Rs 12 lakh, making it an attractive option for
Category: Seven Star
*******Confused About Which ITR Form to File for AY 2025–26? Here’s Your Complete Guide
Clipped from: https://www.taxscan.in/confused-about-which-itr-form-to-file-for-ay-heres-your-complete-guide/522283/ Filing your Income Tax Return (ITR) for the Assessment Year (AY) 2025–26, corresponding to the Financial Year (FY) 2024–25, requires careful selection of
*******Filed wrong ITR, missed appeal window? Here’s how one mistake cost a taxpayer Rs 1.5 Lakh – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/filed-wrong-itr-missed-appeal-window-heres-how-one-mistake-cost-a-taxpayer-rs-15-lakh-477937-2025-05-27 Filing your ITR without understanding key provisions can cost you dearly. A salaried taxpayer in Mumbai learned this the hard way after missing
*******https://www.bajajfinserv.in/investments/income-tax-slabs
New Income Tax Slabs and Rates for FY 2025-26 (AY 2026-27) https://www.bajajfinserv.in/investments/income-tax-slabs New Income Tax Slabs and Rates for FY 2025-26 (AY 2026-27): Up to
*******Long Term Capital Gain Tax on Property – LTCG Rate 2025
lipped from: https://www.bajajfinserv.in/investments/long-term-capital-gain-tax-on-property Long-term capital gains (LTCG) on property held for over 24 months are taxed at either 12.5% without indexation or 20% with indexation, depending
*******YouTube’s three-strike rule: What creators should know and how to appeal | Tech News – Business Standard
Clipped from: https://www.business-standard.com/technology/tech-news/youtube-s-three-strike-rule-what-creators-should-know-and-how-to-appeal-125052600554_1.html YouTube’s three-strike policy covers copyright and community violations; three strikes in 90 days can shut down your channel. Here’s how creators can navigate,
*******ITR hacks for senior citizens: Don’t miss THESE tax benefits available for pensioners in 2025 – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-hacks-for-senior-citizens-dont-miss-these-tax-benefits-available-for-pensioners-in-2025-3857557/ In this story, we will discuss about the various tax benefits available for senior citizens those availing retirement benefits like commuted pension, gratuity,
*******P Chidambaram writes: Why no jobs for most youth? | The Indian Express
Clipped from: https://indianexpress.com/article/opinion/columns/p-chidambaram-writes-why-no-jobs-for-most-youth-10026736/ …The regrettable but inescapable conclusions are, firstly, that the applicants for jobs do not have the education or the skills to fill the
*******Reassessment u/s. 148 untenable as mandatory requirement of 149(1)(b) not complied
Clipped from: https://taxguru.in/income-tax/reassessment-u-s-148-untenable-mandatory-requirement-149-1-b-complied.html Novo Nordisk India Private Limited Vs DCIT (Karnataka High Court) Karnataka High Court held that assumption of jurisdiction under section 147 of the
*******ITAT Quashes Reassessment Proceedings Without Documentary Evidence and Borrowed Satisfaction
Clipped from: https://www.taxscan.in/reassessment-proceedings-initiated-without-documentary-evidence-and-based-on-borrowed-satisfaction-itat-quashes-proceedings/521001/ The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ),quashed reassessment proceedings initiated without any documentary evidence and based solely on borrowed satisfaction. The Revenue-appellant appealed
*******CPC cannot continue to Rectify and Re-rectify intimation u/s 143(1)(a) of Income Tax Act Repeatedly: Delhi HC [Read Order]
Clipped from: https://www.taxscan.in/cpc-cannot-continue-to-rectify-and-re-rectify-intimation-u-s-1431a-of-income-tax-act-repeatedly-delhi-hc/520944/ The repeated use of rectification powers, without due consideration of earlier corrective actions, was deemed improper. This aspect was not considered by the
*******Playing cards without gambling doesn’t involve moral turpitude: SC | India News – Business Standard
Clipped from: https://www.business-standard.com/india-news/playing-cards-without-gambling-doesn-t-involve-moral-turpitude-sc-125052500238_1.html The Supreme Court ruled that playing cards for fun without gambling doesn’t involve moral turpitude, reinstating Hanumantharayappa YC’s election in Karnataka’s cooperative society
*******Reassessment order set aside as passed without disposal of objections: Karnataka HC
Clipped from: https://taxguru.in/income-tax/reassessment-order-set-passed-disposal-objections-karnataka-hc.html Hewlett Packard Financial Services (India) Pvt Ltd Vs DCIT (Karnataka High Court) Karnataka High Court held that reassessment order under section 148 of
*******Reopening u/s. 148 beyond 4 years quashed as material facts fully & truly disclosed: ITAT Raipur
Clipped from: https://taxguru.in/income-tax/reopening-u-s-148-4-years-quashed-material-facts-fully-disclosed-itat-raipur.html Pradeep Kumar Agrawal Vs ITO (ITAT Raipur) ITAT Raipur held that reopening of proceedings under section 148 of the Income Tax Act beyond
*******ITC Eligibility: Section 16(2) vs. 16(5) CGST Act
lipped from: https://taxguru.in/goods-and-service-tax/itc-eligibility-section-162-vs-165-cgst-act.html Introduction The question raised presents a critical legal and administrative dilemma regarding the interplay between the basic eligibility conditions for Input Tax Credit
*******Don’t File Your ITR Without Reconciling AIS &; TIS — Here’s Why?
Clipped from: https://taxguru.in/income-tax/donaet-file-itr-reconciling-ais-tis-aehereaes-why.html Introduction It’s ITR season again, and many taxpayers are logging in to find something new on their Income Tax portal — AIS (Annual Information
*******ITC on Inputs for Destroyed Goods Reversible: Telangana AAAR
Clipped from: https://taxguru.in/goods-and-service-tax/itc-inputs-destroyed-goods-reversible-telangana-aaar.html ITC availed on inputs used in the manufacture of finished goods that subsequently got destroyed, must be reversed: Telangana AAAR The Telangana AAAR,
Appealing Cancellation of GST Registration, Find Draft Reply here!
Clipped from: https://www.taxscan.in/filing-appeal-revocation-cancellation-of-gst-registration-intent-importance-purposes/469454/ The cancellation of GST registration can have significant repercussions for businesses, affecting their operational continuity and legal compliance. It often arises due to
*******Received GST SCN under Section 16(4)? Here’s What to Do [Find Draft Format Here]
Clipped from: https://www.taxscan.in/received-gst-scn-under-section-164-heres-what-to-do-find-draft-format-here/481746/ When addressing a Show Cause Notice (SCN) issued under Section 16(4) of the CGST Act, 2017, it is vital to craft a clear and legally
*******Availment of Both GST ITC and Depreciation on Capital Goods: Here’s How to Draft Reply to GST Notice [Find Format Here]
Clipped from: https://www.taxscan.in/availment-of-both-gst-itc-and-depreciation-on-capital-goods-heres-how-to-draft-reply-to-gst-notice-find-format-here/442167/ The Goods and Services Tax ( GST ) regime in India aims to eliminate the cascading effect of taxes and promote a seamless
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